Cathay Bank Foundation
- Assets
- $128.8k
- Revenue
- $2.4m
- Investments
- $0.0
- Employees
- 0
- Location
- El Monte, CA
- Founding
- 09/2003
- Data as of
- 12/2022
- EIN
- 74-3052411
Organization Overview
Cathay Bank Foundation is located in El Monte, CA. The organization was established in 2003. According to its NTEE Classification (T30) the organization is classified as: Public Foundations, under the broad grouping of Philanthropy, Voluntarism & Grantmaking Foundations and related organizations. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Cathay Bank Foundation is a 501(c)(3) and as such, is described as a "Charitable or Religous organization or a private foundation" by the IRS.
For the year ending 12/2022, Cathay Bank Foundation generated $2.4m in total revenue. This represents a relatively dramatic decline in revenue. Over the past 5 years, the organization has seen revenues fall by an average of (5.5%) each year. All expenses for the organization totaled $2.7m during the year ending 12/2022. As we would expect to see with falling revenues, expenses have declined by (2.6%) per year over the past 5 years. You can explore the organizations financials more deeply in the financial statements section below.
Form
990PF
Mission & Program ActivityExcerpts From the 990PF Filing
TAX YEAR
2022
Describe the Organization's Program Activity:
Part 3 - Line 4a
ANNUAL GOLF TOURNAMENT: TO RAISE FUNDS TO SUPPORT CHARITABLE WORTHY ORGANIZATIONS.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Peter Wu Chair | 1 | $0 | |
Deborah Ching Co-Chair | 1 | $25,000 | |
Wilson Tang Treasurer | 4 | $0 | |
Anthony Hua Director | 1 | $0 | |
Elizabeth Lee Director | 1 | $0 | |
Jack Sun Director | 1 | $0 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Contributions, Gifts, Grants & Similar | $2,320,809 |
| Interest on Savings | $0 |
| Dividends & Interest | $0 |
| Net Rental Income | $0 |
| Net Gain on Sale of Assets | $0 |
| Capital Gain Net Income | $0 |
| Net ST Capital Gain | $0 |
| Income Modifications | $0 |
| Profit on Inventory Sales | $0 |
| Other Income | $50,000 |
| Total Revenue | $2,370,809 |
| Statement of Expenses | |
|---|---|
| Compensation of officers, directors, trustees, etc | $50,000 |
| Other employee salaries and wages | $0 |
| Pension plans, employee benefits | $0 |
| Interest | $0 |
| Taxes | $0 |
| Depreciation | $0 |
| Occupancy | $0 |
| Travel, conferences, and meetings | $0 |
| Printing and publications | $0 |
| Other expenses | $59,892 |
| Total operating and administrative expenses | $118,948 |
| Contributions, gifts, grants paid | $2,626,000 |
| Total expenses and disbursements | $2,744,948 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $128,810 |
| Savings and temporary cash investments | $0 |
| Net Accounts receivable | $0 |
| Net Pledges Receivable | $0 |
| Grants receivable | $0 |
| Receivables from Officers, Directors, or Controlling Persons | $0 |
| Net other notes and loans receivable | $0 |
| Inventories for sale or use | $0 |
| Prepaid expenses and deferred charges | $0 |
| Net Investments - land, buildings, equipment | $0 |
| Investments—mortgage loans | $0 |
| Investments—other | $0 |
| Net Land, buildings, and equipment | $0 |
| Other assets | $0 |
| Total assets | $128,810 |
| Accounts payable and accrued expenses | $0 |
| Grants payable | $0 |
| Deferred revenue | $0 |
| Loans and other payables to any current Officer, Director, or Controlling Person | $0 |
| Mortgages and other notes payable | $0 |
| Other liabilities | $26,600 |
| Total liabilities | $26,600 |